PACCAR Inc (NASDAQ:PCAR) CEO R Preston Feight Sells 27,191 Shares

PACCAR Inc (NASDAQ:PCAR) CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PACCAR Stock Down 0.9 %

Shares of PCAR stock opened at $103.35 on Friday. The stock’s 50 day simple moving average is $100.33 and its 200 day simple moving average is $102.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.55 and a current ratio of 1.25. PACCAR Inc has a twelve month low of $83.18 and a twelve month high of $125.50. The company has a market capitalization of $54.19 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the business earned $2.34 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc will post 8 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. Quarry LP acquired a new stake in PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its holdings in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC grew its holdings in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research reports. Citigroup upped their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $114.18.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.